“Somebody, somewhere, always knows something…..” 11th June London Session GBP Trades

“Somebody, somewhere, always knows something and its human nature to use that information for their own benefit.”

I was told that 20+ years ago when trading prediction markets v1. Its sage advice that has stood the test of time.

This morning would be another good example of that. Trading GBP on an intra-day basis using PACMAN has been prickly all week. Generally, relief rallies do not work well with mean-reversion tactics.

However today price PACMAN’d in the early part of the session and then from about 0900 GBP Sold off strongly against USD, JPY, CHF, and EUR (and to a lesser extent AUD, NZD & CAD).

Clearly somebody knew what was going on and reckoned the news about John Healey’s resignation and its effect on the future of Starmer’s government would be GBP-negative. (That’s my take – feel free to correct me if I’m wrong.)

In the end there was 6 winning short trades for me on GBP. (For comparison I’d had 6 wins and 5 losses for the previous 3 days of the week.)  That is a great day’s haul…………and I openly admit that generating returns off the back of this Governments continued incompetence makes it even sweeter.